Saturday, April 13, 2019

Random charts - med devices

 

"The cost of medical device innovation: can we keep pace?© 2019 Vizient, Inc. All rights reserved.The cost of medical device innovation: can we keep pace?Innovation is the hallmark of U.S. health care. Over the last decade, advances in medical device technology have had an extraordinary positive impact on patient outcomes and quality of life. In 2017, the number of first-time premarket approvals by the U.S. Food and Drug Administration (FDA) increased 28 percent from the previous year, while the number of 510(k) clearances was up 9 percent.

 While these novel devices may provide advanced treatment options, improved quality of life and extended longevity for patients, the high costs associated with the devices and procedures create challenges for hospitals. Because of high research and development costs, the expense of clinical trials and market factors, an innovative medical device almost always carries a premium price. A review of several recent innovative cardiovascular medical device introductions reveals an average 273.3 percent increase in price (range, 163 percent to 565 percent; Table 1) over the predicate medical device.."

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